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737 of stock are bought. The stock is ranked 24 based on the best performing YTD returns of the s&p-500 index from start of the year until 3.11.2020 which is in line with our momentum strategy. 737 stocks are bought so that the target weight of 2.5% (+-1%) would be achieved in the portfolio.
NEM, long position. The IJ Fund aims to build a low-beta portfolio, composed of undervalued stocks. Newmont Mining Company is a U.S. based mining company focusing on mining gold. It currently has mines in 9 different countries and is the biggest gold producer in the world after the 2019 acquisition of Canadian mining company Goldcroup. NEM stock has a P/E ratio of 13.47. The U.S. mining industry average is 21.6 and after PVCF and PVTV calculations the fund suggests that the actual fair share price is around $75.9, making the stock possibly undervalued. Due to these reasons the IJ Fund has strong reasons to believe that the NEM stock will grow in the future. The company has a beta of 0.37, which is slightly below the fund target beta. The market capitalization is $52Bn.The company industry classifies as Industrial.